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Stocks Trim Asia-Fueled Losses, Still End Lower

U.S. equity markets ended in the red on Monday amid concerns about weak data from China. The broad S&P 500 closed just beneath its record closing high.

Today's Markets

According to preliminary calculations, the Dow Jones Industrial Average dropped 33.9 points, or 0.21%, to 16418, the S&P 500 slumped 0.87 point, or 0.05%, to 1877 and the Nasdaq Composite slid 1.8 points, or 0.04%, to 4334.

The S&P 500 closed at yet another record high last week, climbing 1%. The monthly jobs report, which is considered one of Wall Street's most important gauges, showed the American economy added more jobs than expected last month, helping traders shake off worries that the recent bout of weakness was sparked by more than temporary factors.

A report on Chinese trade, however, once again sparked concerns about the global economy. The world's No. 2 economy saw its exports plummet 18.1% on year-over-year basis in February, compared to expectations they would rise 7.5%. Japan's fourth-quarter growth was also revised down to an annual rate of 0.7% from 1%.